Oakmark Funds: “We Elected to Sell Parker-Hannifin (PH) to Pursue More Attractive Alternatives”
Oakmark Funds, an investment management firm, published its “Oakmark Fund” first quarter 2021 investor letter – a copy of which can be seen here. A return of 15.5% was reported by the fund in the Q1 of 2021, outperforming its S&P 500 benchmark that delivered a 6.2% return for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Oakmark Funds, in their Q1 2021 investor letter, mentioned Parker-Hannifin Corporation (NYSE: PH) and shared their insights on the company. Parker-Hannifin Corporation is a Cleveland, Ohio-based motion and control technologies corporation that currently has a $41.4 billion market capitalization. Since the beginning of the year, PH delivered a 17.90% return, extending its 12-month gains to 131.21%. As of April 12, 2021, the stock closed at $321.18 per share.